Closing Time: Dissolving and Winding Up a Michigan For-Profit Corporation

Closing a business can be an exciting, difficult, or bittersweet decision depending on the circumstances. Regardless, and whether you are celebrating a liquidity event or heading back to the drawing board, founders, directors, and shareholders of Michigan for-profit corporations should consider formally dissolving their corporation and winding up its affairs before moving on. To successfully dissolve and wind up a Michigan for-profit corporation and receive maximum protection against known and unknown, outstanding liabilities, founders, directors, or their authorized representatives must follow specific steps set out by Michigan law and often the corporation’s governing documents, which are discussed in detail in Read More …